Is India's economy slowdown result of lack of governance?

Is India's economy slowdown result of lack of governance?

No doubt India economic is slumping down with dollar on escalator, rupees on ventilator and price of each commodity shooting up. In last 4 months, rupee has gone down by 15% and there seems to be no immediate scope for its recovery. RBI has taken some steps to stem further fall but those are temporary remedy and we still have no idea and plan for perennial solution. Our government had promised to shackle the price rise within 100 days of taking charge in the centre. It’s now barely 100 days left for next election and government has no clue how to control the prices.

Our Manufacturing sector is still growing at a low rate; none of the social welfare schemes have reached the poor, and the omnipresent corruption is getting fatter with each year.

All these issues have erupted and onus was on government to control lapses if not fully solve. But there is no show of governance, had it been we would have noticed some blooming areas at least.

1. As election is approaching, our government has started showing concerns for poor by the way of freebies through Food bill. In the food bill policy, they say that about 70% of India’s population will be benefited and that too at the cost of public exchequer. If 70% of our population is still struggling for Food and is in dire need of Food Bill Policy after 66 years of independence, then it is not lack of governance but no governance.

2. Inspite of such a large population base, we are still in a position where we import a lot of products from other countries. Proper governance means proper planning and implementation which if had been done would have resulted in a lot of small industries making India self sufficient.

3. A decent export of goods could have given a major boost to earnings while the value of dollar rose but unfortunately we have never tried to boost our export which is again a lack of foresightedness and planning in governance.